Diversification

Diversification can make your business more resilient when done well but needs to be properly planned for you to succeed.

You should ensure your existing enterprises are running smoothly, meeting the objectives set out in their business plans and are on target for the projections set out in their respective profit and loss accounts. Any issues in your current business could be magnified if you diversified.

Should you decide to diversify, you would need to produce a business plan. The guidance we’ve provided on this website is aimed at agricultural and horticultural businesses. For diversification, you should also research your competition, consider product and pricing, and how you would market your product or services to potential customers. These aspects should be included as additional sections in your business plan.

Other crops and renewable energy

Leisure and hospitality

On-farm production and sales